2914 6th Ave Tacoma, WA 98406-6713

Property Details for 2914 6th Ave

Year built

1923

Construction

WOOD FRAME

Lot size

0.21 lot acres

Property size

5,250 SF

Zone code

NCX

Property type

Retail space

APN

3245002800

APU

3245002800

Description

This exceptional investment opportunity presents a 5,619 square foot, 100% occupied retail storefront located at 2914 6th Avenue in Tacoma, Washington. The property, built in 1923 and renovated in 2006, boasts a strong net operating income (NOI) of $123,516, yielding a 6.00% cap rate. The asking price is $2,050,000. This single-story building sits on a prominent corner lot in a thriving retail area, conveniently located near the University of Puget Sound and other established businesses. The property features three tenants, all operating under triple-net (NNN) leases, ensuring minimal landlord responsibilities and a stable income stream. Two of the three tenants have occupied the space for over ten years, demonstrating long-term commitment and stability. The property is zoned NCX, Tacoma, and its location in the third-largest city in Washington State offers significant growth potential, with projections forecasting substantial population and job growth in the coming years. This is a rare opportunity to acquire a well-established, high-performing retail property in a dynamic and growing market. The property features a total of 5,619 square feet of net rentable space. The Pierce County Assessor's Parcel Number (APN) is 324500-2800. There is no ground lease associated with this property.